Bitcoin is gearing up for a historic rally after breaking its all-time high three times since November 5th. With pro-crypto President Donald Trump confirmed, how far can Bitcoin go in the remainder of 2024?
Bitcoin Growth Supported by US Government Policies
The US government for the next term has been elected, and crypto enthusiasts are pleased with the results. Bitcoin’s price is showing unprecedented strength, now trading well above previous records set in March 2024. If the previous high acts as support, it can serve as a springboard for further growth. The US Federal Reserve is expected to cut interest rates later today, increasing the likelihood of additional growth. Donald Trump, elected as the next US president, is famously pro-crypto, expressing his intention to make America 'the crypto capital of the planet'. Over 240 congressional electees also support Bitcoin, facilitating the promotion of crypto-friendly initiatives. For instance, Senator Lummis proposed a bill for purchasing 200,000 Bitcoin annually, totaling 1,000,000 Bitcoins over five years, currently valued at $76 billion.
Other Cryptos Poised for Growth
Bitcoin’s strength is good news for altcoins, which typically follow market leaders. In growth periods, this results in substantial returns. Notably, several altcoins show considerable potential for significant growth.
Pepe Unchained and Flockerz: Growth Potential
Pepe Unchained is making a name as the first meme coin with its blockchain. It is developing an Ethereum layer 2 that is cheaper and faster than the main network. The presale has raised $25 million, showing strong investor interest. Flockerz is a bird-themed meme coin focusing on decentralization, featuring a 'Vote-to-Earn' system that rewards participation in its DAO. The current presale price is $0.0059571, but it may rise in two days.
With new initiatives and state-level support, the future of Bitcoin and related cryptocurrencies looks bright.
